Hard Seltzer - Hong Kong

The Hard Seltzer market in Hong Kong has seen significant growth in recent years, driven by changing consumer preferences and a shift towards healthier beverage options.

Customer preferences: In Hong Kong, consumers are increasingly seeking out low-calorie and low-sugar beverages that still offer a refreshing and flavorful experience. Hard Seltzers, with their low alcohol content and light, fruity flavors, have emerged as a popular choice among health-conscious individuals. The convenience of canned packaging and the ability to enjoy a refreshing drink on-the-go also contribute to the appeal of Hard Seltzers in the Hong Kong market.

Trends in the market: One of the key trends in the Hard Seltzer market in Hong Kong is the introduction of locally produced options. While international brands initially dominated the market, local breweries and beverage companies have started to tap into the growing demand for Hard Seltzers. This trend not only allows for more variety in flavors and ingredients, but also supports the local economy and reduces carbon footprint associated with importing products from overseas. Another trend in the market is the increasing availability of Hard Seltzers in bars and restaurants across Hong Kong. As more establishments recognize the demand for these beverages, they are including them on their menus and offering a wider selection to cater to different consumer preferences. This trend not only expands the reach of Hard Seltzers, but also helps to normalize their consumption and create a positive association with the product.

Local special circumstances: Hong Kong is known for its vibrant nightlife and social scene, which creates a conducive environment for the growth of the Hard Seltzer market. The city's cosmopolitan population, with a mix of both locals and expatriates, contributes to the diverse consumer base and their openness to trying new and innovative beverages. Additionally, the hot and humid climate in Hong Kong makes Hard Seltzers an appealing choice for those looking for a refreshing and hydrating drink.

Underlying macroeconomic factors: The growing popularity of Hard Seltzers in Hong Kong can also be attributed to broader macroeconomic factors. With a rising middle class and increasing disposable incomes, consumers in Hong Kong are willing to spend more on premium and healthier beverage options. The trend towards wellness and self-care further supports the demand for low-calorie and low-sugar alternatives, creating a favorable market environment for Hard Seltzers. In conclusion, the Hard Seltzer market in Hong Kong is experiencing significant growth due to changing consumer preferences, the introduction of local options, increasing availability in bars and restaurants, the city's vibrant social scene, and underlying macroeconomic factors. As consumers continue to prioritize healthier and more convenient beverage options, the market for Hard Seltzers is expected to further expand in Hong Kong.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.